Tidal Investments LLC Has $2.73 Million Stake in Graco Inc. (NYSE:GGG)

Tidal Investments LLC trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,341 shares of the industrial products company's stock after selling 15,094 shares during the period. Tidal Investments LLC's holdings in Graco were worth $2,726,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Institute for Wealth Management LLC. lifted its position in shares of Graco by 2.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock valued at $410,000 after buying an additional 119 shares during the last quarter. Optas LLC lifted its position in shares of Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock valued at $283,000 after buying an additional 128 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Graco by 1.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock valued at $1,226,000 after buying an additional 138 shares during the last quarter. IFP Advisors Inc lifted its holdings in Graco by 6.1% during the 4th quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company's stock worth $235,000 after purchasing an additional 160 shares during the last quarter. Finally, Marshall Financial Group LLC lifted its holdings in Graco by 1.3% during the 4th quarter. Marshall Financial Group LLC now owns 12,583 shares of the industrial products company's stock worth $1,061,000 after purchasing an additional 164 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Graco news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the transaction, the insider now owns 27,520 shares in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.19% of the company's stock.

Graco Trading Down 2.4%

NYSE:GGG opened at $84.67 on Thursday. The stock has a market cap of $14.15 billion, a P/E ratio of 30.02, a PEG ratio of 2.85 and a beta of 1.09. The stock has a 50 day simple moving average of $81.73 and a 200 day simple moving average of $84.66. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. As a group, sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $85.00 price target on Graco in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Graco has an average rating of "Hold" and an average target price of $93.00.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.

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